$475,000Commercial in Cottonwood

Offered by: Rick Rosenzweig , , soundinvestments1@msn.com

Address:	14 S Main St
Price:	$475,000
Location:	Cottonwood, AZ	MLS #:	522739
Zip Code:	86326	Sq. Feet :	3,430
County:	Yavapai	Bedroom:
Neighborhood:	10 - Cottonwood	Bath:
Year Built:	1953	Acreage:	0.29

Description: For many years the Cottonwood/Camp Verde area has lacked enough small retail rental spaces to meet community demand. This property, originally built in 1953, was recently remodeled by the owners into 11 rental spaces with six bathrooms, at a cost of over $100,000. The overall 3430 sq. ft., gradually rising in occupancy, now brings in monthly rents of $4,525 per month, or $54,300 per year, producing a cap rate of about 7.45%,. Leases are one to four years. When the building reaches over 90% occupancy the total monthly rent is expected to be over $6,000 per month, or $72,000 per year. This should produce a 10% cap rate! The property is well located on S. Main Street adjoining the old Circle K. The location should benefit from the large new Circle K planned for the NW corner of Mingus & Main

Amenities Lot Size: 100 x 125 Current Use: Variety of Users Cooling: Gas Pack Exterior Features: Sprinkler/Drip Flooring: Sheet Vinyl,Tile,Concrete,Laminate Interior Features: Security,Fire/Smoke Alarm,Ceiling Fan,Refrigerator Sewer: None Parking: 10 - 19 Cars,Off Street Roof: Comp Shingle Units: 5 or More Units Utilities: Cable TV,Master Meter,Shared Well,Sewer (Public),Sewer (Private),None,Electricity,Public Water,Telephone,Natural Gas

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